JSW Cement IPO Subscription Status: Day 3 Bidding, GMP Trend, and Analyst Verdict
The JSW Cement IPO subscription status as of Day 3 shows strong traction in retail and non-institutional categories, with both segments fully subscribed, while qualified institutional buyers (QIBs) are yet to make a final push. On the grey market front, the JSW Cement IPO GMP today stands at ₹5, down from earlier highs, indicating a cautious listing-day premium.
With subscriptions closing on August 11, 2025, investor sentiment is mixed — bullish on the company’s growth and sustainability record, but watchful of valuations and industry risks.
JSW Cement IPO Subscription Details: QIB, NII, and Retail Participation
By 10:40 a.m. on Day 3, the IPO subscription status stood at 80% overall. Retail and NII segments have crossed the 1x mark, while QIB interest remains subdued at 24%. Market watchers expect institutional bids to spike in the final hours, a common trend in large-cap offerings.
Subscription Data Table (Day 3 – Aug 11, 2025)
| Category | Subscription (x) | Key Notes |
|---|---|---|
| Qualified Institutional Buyers (QIB) | 0.24x | Potential final-hour surge |
| Non-Institutional Investors (NII) | 1.00x | Strong early participation |
| Retail Individual Investors (RII) | 1.00x | Fully subscribed |
| Overall | 0.80x | Expected to cross 1x by close |
💡 Pro Tip: Track final-hour QIB bids — they often decide listing-day sentiment.
GMP Trend & Grey Market Signals
The JSW Cement IPO GMP today is ₹5, down from ₹9 last week and well below the ₹19 peak recorded earlier. Based on the upper price band of ₹147, this translates to an estimated listing price of ₹152, or a 3.4% premium.
GMP History (Aug 1–11, 2025)
| Date | GMP (₹) | Sentiment |
|---|---|---|
| Aug 1 | 19 | Bullish |
| Aug 5 | 12 | Positive |
| Aug 8 | 9 | Cooling |
| Aug 11 | 5 | Cautious |
Analysts caution that GMP is unofficial and speculative, often reflecting short-term trading enthusiasm rather than fundamentals.
JSW Cement IPO Details: Price Band, Dates, and Lot Size
- Price Band: ₹139–₹147 per share
- Issue Size: ₹3,600 crore — comprising ₹1,600 crore from a fresh issue and ₹2,000 crore via an Offer for Sale (OFS).
- Bidding Dates: Aug 7–11, 2025
- Lot Size: [Insert lot size from RHP]
- Allotment Date: Aug 12, 2025
- Refunds & Credit: Aug 13, 2025
- Listing Date: Aug 14, 2025 (BSE, NSE)
Use of Proceeds:
- Of the proceeds, ₹800 crore is allocated for setting up a new integrated cement plant in Nagaur, Rajasthan.
- ₹520 crore for debt repayment
- Balance for general corporate purposes
Anchor Investor Participation
On Aug 6, JSW Cement raised ₹1,080 crore from marquee anchor investors, including:
- Domestic MFs: SBI MF, Nippon India MF, Tata MF, Aditya Birla SL MF, Motilal Oswal MF
- Global Institutional Investors: Nomura, Abu Dhabi Investment Authority, Morgan Stanley Investment Fund, Goldman Sachs Singapore, and Kuwait Investment Authority.
- Sovereign Funds: Government of Singapore
Analyst Review: Should You Subscribe?
Canara Bank Securities:
- Valuation: 32x EV/EBITDA, 6x P/B vs peers at 23x and 4x
- Strengths: Recognized as the fastest-growing and the world’s greenest cement producer, with strong backing and synergy from the JSW Group.
- Verdict: Subscribe for long-term growth
BP Equities:
- Strengths: Market leader in ground granulated blast furnace slag (84% share), strong distribution
- Verdict: Positive on long-term positioning
Lakshmishree Investment & Securities:
- Caution: Declining profitability & RoE despite revenue growth, cyclical risks
- Positive: Strong brand, sustainability edge
- Verdict: Subscribe for sustained value creation
Competitive Positioning in the Cement Sector
JSW Cement goes head-to-head with industry leaders like UltraTech Cement, Ambuja Cements, Shree Cement, and Dalmia Bharat. While peer valuations vary widely (P/E ratios from 2.38 to 103.50), JSW Cement’s low carbon intensity and eco-friendly production are distinct differentiators.
FAQ
Q1: What is JSW Cement IPO subscription status today?
As of Aug 11 (Day 3), the IPO is 80% subscribed overall, with retail and NII portions fully subscribed, and QIB at 24%.
Q2: What is the GMP for JSW Cement IPO?
The GMP today is ₹5, implying a ~3.4% listing premium over the upper price band of ₹147.
Q3: Is JSW Cement IPO a good buy for long term?
Analysts highlight strong growth, sustainability credentials, and JSW Group backing. However, stretched valuations and cyclical risks require a cautious, long-term view.
Applying for JSW Cement IPO?
Compare subscription trends, GMP movement, and expert calls before making your move.
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